This paper studies the pricing of the risk associated with the location of the assets. The location risk is measured by ‘local beta’, which combines the systematic risk of local property markets and the property allocation strategy of real estate firms. The empirical results confirm a higher...

We study the effect of geographic portfolio diversification of real estate firms on their investment performance before and after the global financial crisis (GFC). In addition to previously used dispersion metrics, we also account for the distance of the properties to the corporate...

Green leases in commercial real estate have gained widespread attention from real estate investors in recent years. As an appendix to the lease contract, a green lease is designed to reduce energy consumption in buildings and ensure compliance with climate targets in their markets. Using a...

Green leases in commercial real estate have gained widespread attention from real estate investors in recent years. As an appendix to the lease contract, a green lease is designed to reduce energy consumption in buildings and ensure compliance with climate targets in their markets. Using a...